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ITR Verification timeline extended upto 28/02/2022 for FY 2019-20/ Ay 2020-21

Income Tax Department has provided a one time opportunity to the Taxpayers whose Income Tax Return  (ITR) has been filed but is pending for e-verification (using EVC/ OTP) or …
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ICAI’s Standards on Auditing (SA, SQC, AROS/ AAS, SRE, SAE, SRS)

List of ICAI's Standards on Auditing (SAs), including SQCs, AROS/AAS, SREs, SAEs, SRSs, etc. issued from time to time.
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List of ‘Accounting Standards for Local Bodies (ASLB)’ issued by ICAI

Accounting Standards formulated by the ICAI do not override the statute/ law that govern the preparation and presentation of general purpose financial statements of a particular Local Body. Accounting Standards …
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Resumption of Blocking of E-Way Bill (EWB) Generation Facility: GSTN

GSTN has issued Advisory stating that the ‘Blocking of E-Way Bill (EWB) generation facility’ has been resumed on the ‘E Way Bill Portal’. Taxpayers who wish to continue to …
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CBDT notifies Final Rules on ‘No Retrospective Taxation’ of ‘Indirect Transfer’

CBDT notifies the Income Tax (31st Amendment) Rules 2021, i.e. final Rules on ‘no retrospective taxation’ in line with the Amendments made by the Taxation Laws (Amendment) Act, 2021. …
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CBIC clarifies refund issue of tax paid wrongly: inter-state vs. intra-state supply

CBIC clarifies the issue of refund of tax wrongfully paid as specified u/s 77(1) of CGST Act and u/s 19(1) of the IGST Act, i.e. where a supply is …
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CBDT to Regularise ITRs submitted using EVC instead of DSC

CBDT has issued Order to Regularise the Income Tax Returns (ITRs) submitted/ verified  using EVC instead of DSC as required under IT Rule 12, due to technical issues at …
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Lump sum Limit for NPS Withdrawal on Exit, enhanced by PFRDA

PFRDA has modified the norms applicable for exit from National Pension Scheme (NPS) to enhance/ increase the lumpsum withdrawal limit under the NPS, i.e. for premature exit, normal exit …
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CBIC Clarifications on Supply/ Export of Services under IGST Act 2017

CBIC Clarifications on Supply/ Export of Services under the IGST Act 2017 explained with key rules, conditions, and practical impact.
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CBIC Clarifications on Certain GST related issues

CBIC has addressed some GST-related concerns, such as delinking debit note date from invoice date for ITC, no need to carry physical copy of tax invoice if e-invoice created, …
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